Five Things You Should Read

November 2, 2017

What CIOs needs to know about rev rec, and why 2018 will be a pivotal year for finance.

House Ways & Means Committee to Releases Tax Bill Today

CNN

After a 24-hour delay, House Republicans are expected to unveil a tax bill today. The bill is expected to expand the child tax credit, repeal the estate tax, lower the corporate tax rate and reduce the number of individual tax brackets from seven to four. It is still not clear whether the leadership can wrangle the votes they will need to deliver President Trump a major legislative victory by the end of the year.

Fixer Leaders Put Themselves at Risk

WSJ - Paywall

Bosses worried about widened skill shortages often try to fix rather than quickly fire flawed employees. But "rescuers" or "fixer bosses," well-meaning executives who work to fix weak staffers, risk alienating top performers or could be viewed as poor judges of talent if their attempts fail.

Why 2018 Will Be a Pivotal Year for Finance

Information Age

Blockchain and self-driving finance, unified ledger integration, AI in expense management, digital invoicing (Universal Business Language, or UBL), and integrated business planning will all set the stage for a service-economy shift that will impact organizations and their finance departments.

What Your CIO Needs to Know About Revenue Recognition 

Tech Republic

Normally, accounting changes attract the attention of investors, accountants, and finance. However, enterprise IT leaders need at least a basic familiarity with the impact of the ASC 606 core principle, since it has implications for software sales, sales compensation, and financial systems. Your organization's software may need updates to track information related to contracts, performance, and commissions. 

Warren Buffet's Advice to A-Rod on Business and Life

Business Insider

On the business side, Rodriguez said that Buffett taught him to never personally guarantee any debt and to never hold too much cash, but rather put "your money in great businesses." On a personal note: Be the best baseball player you can be and always be a gentleman. The men struck up a friendship after Rodriguez sent the investor a note thanking him when Buffett's Berkshire Hathaway underwrote disability insurance for a 10-year, $252 million contract between the Texas Rangers and Rodriguez.